Lisanti Capital Growth LLC Lowers Stock Position in RBC Bearings Incorporated $RBC

Lisanti Capital Growth LLC lessened its holdings in RBC Bearings Incorporated (NYSE:RBC) by 10.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,791 shares of the industrial products company’s stock after selling 1,545 shares during the period. RBC Bearings comprises 1.4% of Lisanti Capital Growth LLC’s holdings, making the stock its 22nd biggest position. Lisanti Capital Growth LLC’s holdings in RBC Bearings were worth $5,736,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RBC. Advisors Asset Management Inc. purchased a new stake in shares of RBC Bearings in the 1st quarter worth approximately $26,000. SBI Securities Co. Ltd. lifted its position in shares of RBC Bearings by 106.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 33 shares during the period. Larson Financial Group LLC lifted its position in shares of RBC Bearings by 148.5% in the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 49 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of RBC Bearings in the 4th quarter worth approximately $35,000. Finally, Root Financial Partners LLC purchased a new stake in shares of RBC Bearings in the 3rd quarter worth approximately $36,000.

RBC Bearings Trading Down 1.3%

NYSE RBC opened at $559.54 on Friday. The company has a quick ratio of 0.78, a current ratio of 2.18 and a debt-to-equity ratio of 0.21. The firm has a market cap of $17.70 billion, a PE ratio of 61.56, a price-to-earnings-growth ratio of 3.22 and a beta of 1.47. The company has a 50 day moving average price of $573.85 and a 200 day moving average price of $517.67. RBC Bearings Incorporated has a 52 week low of $351.19 and a 52 week high of $632.00.

RBC Bearings (NYSE:RBC) last posted its quarterly earnings data on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, topping the consensus estimate of $3.31 by $0.31. The firm had revenue of $518.00 million during the quarter, compared to analyst estimates of $505.90 million. RBC Bearings had a net margin of 15.37% and a return on equity of 11.35%. RBC Bearings’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.83 EPS. As a group, sell-side analysts forecast that RBC Bearings Incorporated will post 13.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RBC. KeyCorp upped their price target on shares of RBC Bearings from $595.00 to $680.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Truist Financial reiterated a “buy” rating and set a $615.00 price objective (up from $599.00) on shares of RBC Bearings in a research note on Tuesday. Morgan Stanley boosted their price objective on shares of RBC Bearings from $600.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday. The Goldman Sachs Group reiterated a “neutral” rating and set a $542.00 price objective on shares of RBC Bearings in a research note on Monday, February 9th. Finally, Weiss Ratings upgraded shares of RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $584.00.

RBC Bearings Profile

RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.

The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.